In the wake of Iran’s missile strike on Israel on Tuesday, Deputy Chief EM Economist Jason Tuvey and David Oxley, our Chief Commodities and Climate Economist, talk about implications for the global oil market, including:
- What an Israeli retaliation against Iranian oil production could mean for prices;
- The risks around Iran closing the Strait of Hormuz;
- How far prices would need to rise to threaten the global inflation picture.
Further reading
Oil spikes, but not yet a concern for central banks
Nasrallah and the next phase of war in the Middle East
The Weekly Briefing from Capital Economics